Will regulation make bitcoin slower?

[btvGainer]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

[Meuh6879]

You can't regulate Bitcoin.









It's free.













https://coinmap.org/#/

[The Sceptical Chymist]

I disagree, bitcoin can certainly be regulated.  You just watch.

As far as OP goes, when I sell something on Ebay I have immediate access to my money.  So that must vary among countries, and I'm sure if a bank or whatever decided to start using bitcoin as a currency, its use could be regulated just like this.  At least that's how I imagine it--and I'm not an economist or politician, so take my opinion for exactly how much you paid for it.

[iqlimasyadiqa]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

[shinratensei_]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

But fast or not it's relied on with the government guidelines, I don't think so because basically bitcoin is having a different system with PayPal maybe they will making different guidelines for bitcoin, and adjust to bitcoin.

[btvGainer]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

Of course government cannot contol bitcoin but they can contol wallet and exchanges that operates in their country and force them to do many things like deferring bitcoin transaction by holding them at their end

[7788bitcoin]

Regulations will not make bitcoin slower unless the community vote to change some of the current rules via hark fork. Even the blocksize increase is still under discussion and no planned hard fork in the foreseeable future, I doubt we can change the bitcoin system so easily.

[romero121]

Regulations won't make bitcoin slow, because its decentralized nature won't allow it. Also by situation if it gets regulated, based upon the strict regulations developers create alternate solutions to overcome the issues and continue bitcoin to be faster.

[Wind_FURY]

I disagree, bitcoin can certainly be regulated.  You just watch.

As far as OP goes, when I sell something on Ebay I have immediate access to my money.  So that must vary among countries, and I'm sure if a bank or whatever decided to start using bitcoin as a currency, its use could be regulated just like this.  At least that's how I imagine it--and I'm not an economist or politician, so take my opinion for exactly how much you paid for it.

The government sure can "regulate" it. But regulation and control are two different animals. They can say "you cannot do this or that" but all they are doing is pushing it to the underground. The more they push it there the more will it be harder to regulate. The black market would welcome this with open arms. So the government better study it thoroughly before those clueless politicians make laws to "regulate" bitcoin.

[jerowacik]

I believe bitcoin will not be affected by the system of government of a country. bitcoin will have their own strengths. because bitcoin digital currency is anonymous.

[BTCLovingDude]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

as far as i know this rule was set because of the reversible transactions in paypal and banks so they hold the money for a period of time to prevent fraud,... and since bitcoin does not have reversibility i don't see why they should do this.

besides they are already having some sort of time when they waste like this when you deposit fiat in exchanges for example. but again it is fiat and they want to also check your identity.

[madwica]

I believe bitcoin will not be affected by the system of government of a country. bitcoin will have their own strengths. because bitcoin digital currency is anonymous.

We are hoping for that but if our government in each country will impose any regulation it has a big effect on bitcoin i think not in the speed of transaction it will effect on the price and tax will be included in that i think.

[~Bitcoin~]

Bitcoin can't be regulated and also if government try to regulate bitcoin exchanges/withdraw service than they can only have daily limit for both exchange/withdraw they can't fully track bitcoin source and have legal action.

[vero]

I think that thing is possible but government cannot regulate bitcoin maybe they will try to arrange exchange you so all transactions for withdrawal of funds to the account will be on hold for 48 hours.

[pooya87]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

since government can't regulate bitcoin but instead they can only regulate the businesses using bitcoin then if the slow you say happens (which i don't think is the case because of how bitcoin works) only those services will be slowed not bitcoin. so stop using those services.

[bitkilo]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

Bitcoin is very different than PayPal and could never be regulated in a similar way.
As history has shown exchanges and online wallets can not be trusted to keep your coins safe.

[vindicare]

It will become slower if the regulation is being hold by the government as they are always finding way to reveal your identity,at some point they are just about your security. But if its some private/public community handling the regulation I think it will not slow down as the progress of evolving/enhancing the speed of transactions are limitless and cannot be mandated by the government.

[Kakmakr]

Any direct transfer between Bitcoin addresses not going through centralized services will not be influenced at all. If these services make use of off-chain solutions, then they could most probably implement something like this. Any on-chain solution will make no difference at all at the speed at which these tx's could be done. ^smile^

[ObscureBean]

I think holding of funds might be country specific but there is no doubt that plenty of things that we currently take for granted are going to change if Bitcoin gets regulated. There is nothing to be done about this, if we want to go mainstream, we'll need to make concessions.

[rphk]

I believe  regulations will not make bitcoin slower because bitcoin works in different way and not like paypal. bitcoin works on number of confirmations. only thing government can control is wallet ,already some countries regulated like need to follow tax rules on the holding bitcoin wallet.